The new year is looming, and with it a calendar full of compliance needs. Assent’s Product Marketing Manager, Omar Kahiel, hosted a webinar last week to talk about how platform technology can help you prepare for the year ahead, featuring compliance topics inspired by the 12 Days of Christmas:
- One Compliance Calendar.
- Two Contractual Clauses.
- Three Product Compliance Regulations.
- Four Conflict Minerals.
- A Surprise Fifth Regulation.
- Six Business Units.
- Seven Different Factors.
- Eight Survey Responses.
- Nine Mutual Customers.
- Ten (Thousand) Dollar Spend.
- Eleven Supplier Educational Courses.
- Twelve Days of Compliance.
The webinar offers tips and tricks on making the most of your 2021 compliance programs. We’ve collected some of the highlights from the first three days below, but be sure to download the webinar for more!
Learn more about how platform technology can help you prepare for the year ahead in our free webinar, 12 Days of Compliance.
One Compliance Calendar
As part of program deployment, Assent supports clients in the development of a compliance calendar. This calendar provides companies with guidance on when to contact suppliers to achieve the best possible response rate, and supports compliance with regulations as they evolve throughout the year. Assent’s scheduled campaigns enable companies to:
- Provide consistency for better business planning.
- Alleviate burden on suppliers through data standardization.
- Avoid penalties for missed deadlines or non-compliance.
- Better assess risk with the most up-to-date information.
Compliance calendars also mitigate supplier exhaustion. By aligning data requests to industry requirements, and spreading requests across the year rather than sending them simultaneously, suppliers are able to better manage resources necessary to meet requests.
Two Contractual Clauses
Onboarding and renewal is a good time to introduce data requirements to suppliers. By including data and compliance requirements in contracts, companies establish expectations with suppliers, and allow them the forewarning they need to staff and plan appropriately to keep up with requirements.
Three Survey Responses
Do you contractually require suppliers to submit supply chain data?
The percentage increases as the annual revenue of the company increases as well. We see the more a company contracts, the more mature a program they have. We’re not only provide the guidance in how to insert these requirements into your contacts,” the more successful and mature your program is.
Preparing for 2021
The coming year will be full of new requirements, beginning with the European Union (EU) Waste Framework Directive (WFD)’s Substances of Concern In articles, as such or in complex objects (Products) (SCIP) database on January 5, 2021, and continuing on throughout the year.
For more information about Assent can support you in 2021 and beyond, contact us today.
